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NetJets, headquartered at Port Columbus, is the world’s largest private-jet fleet, with more
than 700 aircraft. It is the pioneer of “fractional” jet ownership.

Fractional jet ownership is like a time share for aircraft. Those needing a private jet but at a
lower cost can buy a “share” of a plane, providing the buyer with 50-plus hours of flight time a
year that can be accessed on as little as four hours’ notice.

The concept of fractional jet ownership was introduced at an aviation trade show in 1986 by
Executive Jet. The following year, the company launched the program with the purchase of eight
Cessna Citation S/IIs aircraft and called it NetJets.

Customer Warren Buffett was so impressed with Executive Jet and its growth potential that his
investment firm, Berkshire Hathaway, bought the company in 1998.

Executive Jet changed its name to NetJets in 2002.

When Buffett bought the company, it was based in New Jersey. Executive Jet’s corporate
headquarters had moved there from Columbus in 1984, after Richard Santulli, who is credited with
creating the industry of fractional jet ownership, bought the company. NetJets remained in New
Jersey until 2009.

After Santulli’s departure from the company, the corporate headquarters returned to Columbus,
joining its operational headquarters. In 2011, work began on a new $21 million headquarters
building at Port Columbus.